Proof in Recovery
Early Stage
Digital therapeutics and remote patient monitoring for substance use disorders
Overview
Raised: $59,426
Total Commitments ($USD)
Platform
Wefunder
Start Date
01/31/2022
Close Date
05/27/2022
Min. Goal
$50,000
Max. Goal
$250,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Early Bird Val. Cap
$6,000,000
Valuation Cap
$8,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$512
# of Investors
34
Momentum
Funded
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Year Founded
2018
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
Proof in Recovery, with a valuation of $8 million, is raising funds on Wefunder. The company is developing digital therapeutics that will help improve treatment and recovery for substance abuse patients. The technology platform of Proof in Recovery can also be used for remote patient monitoring to provide clinicians with the data to make informed care decisions. Proof in Recovery is led by a passionate team and has a revenue opportunity of $925 million. Zachary Ratliff founded Proof in Recovery in January 2018. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $250,000. The campaign proceeds will be used for building the alpha version of the app, branding and website design, and development and expansion of digital therapeutic exercises.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$49,000 |
$0 |
|
COGS |
$24,500 |
$0 |
|
Tax |
$450 |
$0 |
| ||
| ||
|
Net Income |
$-39,875 |
$-2,242 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$2,395 |
$427 |
|
Accounts Receivable |
$49,000 |
$0 |
|
Total Assets |
$51,395 |
$427 |
|
Short-Term Debt |
$24,500 |
$0 |
|
Long-Term Debt |
$40,000 |
$25,000 |
|
Total Liabilities |
$64,500 |
$25,000 |
Financials as of: 01/31/2022
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